Sight Sciences, Inc. (NASDAQ:SGHT) Receives Average Rating of “Hold” from Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.83.

Several brokerages have recently issued reports on SGHT. Stifel Nicolaus reduced their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Citigroup cut their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Piper Sandler cut their price objective on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Lake Street Capital cut their price objective on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group cut their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manohar K. Raheja purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. The trade was a 7.41 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 63,014 shares of company stock valued at $197,295. 28.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. B. Riley Wealth Advisors Inc. lifted its stake in Sight Sciences by 24.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 243,082 shares of the company’s stock valued at $885,000 after buying an additional 48,000 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Sight Sciences by 314.2% during the fourth quarter. Squarepoint Ops LLC now owns 169,211 shares of the company’s stock valued at $616,000 after buying an additional 128,355 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Sight Sciences during the fourth quarter valued at about $36,000. Prosight Management LP lifted its stake in Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock valued at $3,308,000 after buying an additional 377,625 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Sight Sciences during the fourth quarter valued at about $464,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Performance

Shares of SGHT opened at $2.89 on Friday. Sight Sciences has a 1 year low of $2.17 and a 1 year high of $8.45. The company has a market cap of $148.35 million, a price-to-earnings ratio of -2.83 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The firm has a fifty day moving average of $2.76 and a 200-day moving average of $4.12.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same period last year, the firm posted ($0.22) EPS. As a group, equities analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current year.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.